Dana (NYSE:DAN) Rating Lowered to Underweight at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Dana (NYSE:DAN) from an equal weight rating to an underweight rating in a research note released on Friday morning, MarketBeat reports. The brokerage currently has $9.00 price objective on the auto parts company’s stock, down from their previous price objective of $13.00.

Several other analysts also recently commented on DAN. Wolfe Research assumed coverage on shares of Dana in a research report on Thursday, September 5th. They issued a peer perform rating for the company. UBS Group decreased their target price on shares of Dana from $14.00 to $12.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. Barclays boosted their price target on Dana from $15.00 to $16.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on Dana from $18.00 to $17.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Finally, StockNews.com lowered Dana from a buy rating to a hold rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $14.00.

Dana Stock Up 3.0 %

Shares of NYSE DAN opened at $10.17 on Friday. The stock has a market capitalization of $1.47 billion, a PE ratio of 112.94, a price-to-earnings-growth ratio of 0.49 and a beta of 2.29. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 1.55. Dana has a 12-month low of $9.16 and a 12-month high of $15.27. The stock’s fifty day simple moving average is $10.93 and its two-hundred day simple moving average is $12.09.

Dana (NYSE:DAN) last released its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.76 billion. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, analysts expect that Dana will post 0.98 EPS for the current fiscal year.

Dana Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 9th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Friday, August 9th. Dana’s dividend payout ratio (DPR) is 444.44%.

Institutional Trading of Dana

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cibc World Markets Corp increased its holdings in Dana by 46.0% in the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock valued at $17,386,000 after buying an additional 375,000 shares during the last quarter. Rhumbline Advisers grew its position in shares of Dana by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock worth $5,170,000 after acquiring an additional 5,468 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Dana in the 2nd quarter valued at approximately $388,000. Institutional investors own 96.79% of the company’s stock.

About Dana

Dana Incorporated, together with its subsidiaries, provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. The company operates through four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.